Original scientific paper
https://doi.org/10.1080/1331677X.2021.1937262
How COVID19 pandemic affect film and drama industry in China: an evidence of nonlinear empirical analysis
Jiachong Hu
Xiao-Guang Yue
Deimante Teresiene
Irfan Ullah
Abstract
With its contiguous nature, paired with the people’s fear and anxiety, the Covid-19 outbreak has become a lethal combination,
which despite the lower death ratio, has led to unanticipated
financial and economic repercussions that have eventually disturbed the life of every single human being around the globe. In
this very context, enterprises that belong to the fields of entertainment, tourism, lodging, dining, hotels, and restaurants have
been found to be at a higher risk, as such operations are harshly
affected during such unanticipated situations. Hence, based on
this notion, the present study has been conducted, in order to
precisely identify the effect on China’s film and drama industry’s
stock returns, due to the outburst of the COVID-19 pandemic.
Therefore, based on the time-series data from China, spanning
from the time period of 01-Jan-2020 to 15-Mar-2021, the quantile
autoregressive distributed lag method (QARDL) method has been
applied, as the preferred statistical technique for this study.
The results have reported that there happens to be a negative
impact of the COVID-19 pandemic, on the industry across all the
considered quantiles, representing the bearish, normal, and bullish market conditions. Therefore, based on these findings, the
government regulations’ full compliance regarding social distancing and health assurance has been recommended.
Keywords
China; COVID-19; drama; film; QARDL; stock market
Hrčak ID:
302270
URI
Publication date:
31.3.2023.
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